Ferrari N.V. $RACE Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC lifted its holdings in shares of Ferrari N.V. (NYSE:RACE) by 21.9% during the fourth quarter, Holdings Channel reports. The fund owned 47,792 shares of the company’s stock after purchasing an additional 8,590 shares during the quarter. Intech Investment Management LLC’s holdings in Ferrari were worth $17,888,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RACE. Groupama Asset Managment increased its holdings in Ferrari by 5.7% during the 3rd quarter. Groupama Asset Managment now owns 16,990,621 shares of the company’s stock worth $8,244,189,000 after purchasing an additional 916,821 shares during the last quarter. Vanguard Group Inc. lifted its stake in Ferrari by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,213,450 shares of the company’s stock valued at $1,937,388,000 after buying an additional 58,506 shares during the last quarter. Amundi grew its position in shares of Ferrari by 8.0% during the third quarter. Amundi now owns 2,972,368 shares of the company’s stock worth $1,461,008,000 after acquiring an additional 219,909 shares during the last quarter. Bank of Italy increased its holdings in shares of Ferrari by 2.3% in the 3rd quarter. Bank of Italy now owns 2,462,771 shares of the company’s stock worth $1,190,158,000 after acquiring an additional 55,500 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in shares of Ferrari by 27.5% in the 3rd quarter. Alliancebernstein L.P. now owns 2,379,261 shares of the company’s stock worth $1,154,465,000 after acquiring an additional 512,703 shares during the period.

Ferrari News Summary

Here are the key news stories impacting Ferrari this week:

• Positive Sentiment: CEO Benedetto Vigna said the Ferrari Luce is already receiving orders, suggesting the company may be able to monetize its first EV despite the backlash. Article Title
• Positive Sentiment: Ferrari is defending the Luce’s premium pricing as justified by innovation and brand exclusivity, which may reassure investors that the company can protect margins. Article Title
• Neutral Sentiment: Media coverage and social media reactions have been highly polarized, with some criticism of the EV’s styling and “californian” feel, but the attention also keeps Ferrari in the spotlight. Article Title
• Negative Sentiment: The initial Luce unveiling triggered investor backlash and a sharp share-price decline earlier this week, with critics arguing the design and price could alienate Ferrari’s core buyers. Article Title

Ferrari Trading Up 3.9%

Shares of NYSE:RACE opened at $346.32 on Friday. The company has a 50 day moving average of $340.07 and a 200-day moving average of $357.97. The firm has a market cap of $81.02 billion, a P/E ratio of 33.23, a P/E/G ratio of 3.17 and a beta of 0.95. Ferrari N.V. has a twelve month low of $312.51 and a twelve month high of $519.10. The company has a current ratio of 5.20, a quick ratio of 4.08 and a debt-to-equity ratio of 0.72.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RACE. Sanford C. Bernstein reissued an “outperform” rating and set a $410.00 target price on shares of Ferrari in a research note on Wednesday, February 11th. Jefferies Financial Group raised Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Weiss Ratings restated a “hold (c)” rating on shares of Ferrari in a research report on Friday, April 10th. Zacks Research raised Ferrari from a “strong sell” rating to a “hold” rating in a research note on Monday, February 2nd. Finally, Citigroup raised Ferrari from a “sell” rating to a “neutral” rating in a research note on Thursday, February 12th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Ferrari currently has an average rating of “Moderate Buy” and an average target price of $469.06.

Ferrari Profile

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.